‘Total loan automation system’ from Karnataka Bank

Mangalore Today News Network

Mangalore, Aug 19, 2014:  Karnataka Bank has launched the loan automation processing solution called LAPS. The application which was already in use for processing gold loans and deposit loans, now expands to the process of entire spectrum of credit portfolio including retail, agriculture and corporate sector.

The introduction of new system provides higher level of accuracy of MIS data, apart from timely processing of credit proposals. This application will also gradually enable on-line tracking of MSE application. The software support is provided by Sys Arc Informatics Pvt Ltd, Chennai.

Rolling out the new application, Bank MD, P Jayaram Bhat, called upon to make best use of the system and improve the quality of the credit processing and speedy disposal of credit proposals. CGM M S Mahabaleshwara Bhat stressed to speed up the credit proposal disposal in atime bound manner.